eBay has rejected a roughly $56 billion acquisition offer from GameStop.

BlockBeats News, May 12th - According to market sources, eBay has rejected GameStop's proposed $56 billion acquisition offer, citing it as "neither credible nor attractive."

Earlier on May 4th, GameStop had proactively proposed to acquire the American online trading platform eBay for approximately $56 billion. GameStop's CEO Cohen stated that the company already holds about 5% of eBay's shares and offered to acquire the company through a mixture of cash and stock at $125 per share. If eBay does not accept this proposal, Cohen is prepared to launch a proxy battle and will directly present the offer to the shareholders.